Warren Buffett's position outsourced to India

Warren Buffett was surpassed as the world’s seventh wealthiest person this week by the chairman of Reliance Industries Ltd., India’s Mukesh Ambani.

This week, Ambani’s fortune was valued at $68.3 billion according to Bloomberg. The Oracle of Omaha, as Buffett is known, has a personal net worth of only $67.9 billion.

Ambani benefited from an increase in the stock price of his company thanks to investments from companies like Facebook and Silver Lake, as well as the purchase of its retail fuel division by BP.

Buffett, on the other hand, gave $2.9 billion to charity this week, adding to the more than $37 billion in Berkshire Hathaway stock he’s donated since 2006.

In case you were wondering, Amazon founder Jeff Bezos is the world’s richest individual, with an estimated net worth in excess of $100 billion.

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